XRP’s recent performance suggests bullish momentum as it continues to rise within an established uptrend. Prominent analyst Cryptoinsightuk shared an observation on X noting that “$XRP ascending accumulation underway. GET READY.” This indicates that XRP’s price might be gearing up for a potential breakout if it can overcome nearby resistance levels.
Moreover, current indicators show sustained buying interest, positioning XRP for a test of higher levels, though technical indicators suggest caution.
Ascending Trendline Supports XRP Price Gains
The XRP chart reveals a clear upward trend. XRP’s price has steadily built a series of higher highs and higher lows, starting from a base around $0.54 and climbing to the present level near $0.73.
This positive price movement is bolstered by an ascending trendline, providing strong support as XRP moves upward. This trendline indicates consistent buyer interest, reinforcing bullish sentiment as the cryptocurrency approaches resistance. If XRP’s price holds above this trendline, it may maintain its uptrend, increasing the likelihood of further price appreciation.
Key Resistance and Support Zones in Focus
Ripple’s XRP faces a notable resistance around the $0.74 level. Breaking above this could signal further upside potential. Support, meanwhile, has shifted from a previously established resistance at $0.64, now serving as a critical zone where buyers are stepping in to prevent downward movement. The red zone around $0.64 highlights XRP’s ability to establish a floor as it ascends, strengthening its position against selling pressure.
Furthermore, trading volume shows a favorable trend for XRP. Higher volume on green (bullish) candles suggests that buyers are actively driving price increases, indicating steady demand.
In contrast, the volume on red (bearish) candles remains subdued, suggesting limited selling pressure. This aligns with the “ascending accumulation” noted by Cryptoinsightuk, as steady buying is contributing to upward momentum, potentially setting the stage for a breakout.
Read Also: Goatseus Maximus (GOAT) AI Meme Coin Price Pattern Signals Potential Rally Beyond $1.50
RSI Approaches Overbought Zone – What It Means for XRP
XRP’s Relative Strength Index (RSI) stands at 69.5, nearing the overbought threshold of 70. While this signals strong bullish momentum, it also suggests that XRP could face a brief consolidation or pullback if buying activity slows. However, if XRP’s price breaks above the $0.74 resistance, it may extend its gains, reflecting sustained interest among buyers.
Overall, XRP’s upward trend, supported by buying volume and the ascending trendline, highlights its potential for further growth. With resistance at $0.74 acting as a key barrier, investors are closely monitoring XRP’s next moves.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
Source link
